Sensex slips about 200 points, Nifty below 8500

The S&P BSE Sensex slipped as much as 198 points in trade, led by losses in ICICI Bank, L&T, Tata Motors, HDFC Bank and HDFC. The 50-share Nifty index also broke below its crucial psychological support level of 8500, weighed down by losses in IT, auto, banks, capital goods and metal stocks.